Key information about India Gross Savings Rate

• India Gross Savings Rate was measured at 30.7% in Mar 2024, compared with 30.7% in the previous year.
• India Gross Savings Rate is updated yearly, with data available from Mar 1951 to Mar 2024, and an average rate of 30.7%.
• The data reached an all-time high of 30.7% in Mar 2008 and a record low of 7.9% in Mar 1954.
• CEIC calculates Gross Domestic Savings Rate from annual Gross Domestic Savings and annual Nominal GDP. Ministry of Statistics and Programme Implementation provides Gross Domestic Savings in local currency and Nominal GDP in local currency based on SNA 2008, at 2011-2012 prices. Gross Domestic Savings Rate is annual frequency, ending in March of each year.
• In the latest reports, India GDP expanded 6.1% YoY in Mar 2023.
• India Nominal GDP reached 873,666.0 USD mn in Mar 2023. Its GDP deflator (implicit price deflator) increased 4.1% in Mar 2023.
• India GDP Per Capita reached 2,452.2 USD in Mar 2023.

Personal Savings in India increased to 26099.21 INR Billion in 2016 from 25429.60 INR Billion in 2015. This dataset provides - India Households Savings - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The gross savings rate for India was recorded at just over ** percent as of March 2023. This was a drop from over ** percent in the previous year. The coronavirus (COVID-19) pandemic caused contractions in gross savings rate.

Gross savings (% of GDP) in India was reported at 30.01 % in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Gross savings (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In the financial year 2021, the average annual saving of rich households in India was over 606 thousand Indian rupees, a stark contrast to destitute category which saved only five thousand Indian rupees. The middle-class saved almost 130 thousand Indian rupees annually. During the year, a rich household spent almost 25 times that of a destitute household, eight times that of an aspirer household, and almost three times that of a middle-class household.

Gross domestic savings (% of GDP) in India was reported at 29.27 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Gross domestic savings (% of GDP) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In 2019, the value of gross national savings was forecasted to amount to *** billion U.S. dollars across India. This was an increase from about *** billion U.S. dollars in 2015. Small savings schemes such as Senior Citizen Savings Scheme, 15-Year Public Provident Fund, National Savings Certificate and Sukanya Samriddhiare major contributors to the national savings.

Adjusted savings: net national savings (current US$) in India was reported at 580564673173 USD in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Adjusted savings: net national savings - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

In a survey conducted in March 2022 about the impact of COVID-19 in India, around ** percent of the respondents cited a drop in the total household savings. However, about ** percent of respondents revealed a increase in savings.

Gross savings (current US$) in India was reported at 1174153990212 USD in 2024, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Gross savings - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

India Gross Domestic Saving: Household: Financial Savings data was reported at 7,171,310.000 INR mn in 2013. This records an increase from the previous number of 6,321,960.000 INR mn for 2012. India Gross Domestic Saving: Household: Financial Savings data is updated yearly, averaging 96,140.000 INR mn from Mar 1951 (Median) to 2013, with 63 observations. The data reached an all-time high of 7,747,529.050 INR mn in 2010 and a record low of 140.000 INR mn in 1952. India Gross Domestic Saving: Household: Financial Savings data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under Global Database’s India – Table IN.AF003: NAS 2004-2005: Domestic Saving.

As of 2021, India recorded more women who owned a bank or savings account, at approximately 79 percent of women aged between 15 and 49 years. In that same year, more than four out of five women in this age bracket in urban Indian also had a bank or savings account that they themselves used.

Over 55 percent of workers in India were habitual savers as per a 2018 survey aimed at studying attitudes and preparedness for retirement in India. According to the global findings of the same survey, Indians were the most prepared for retirement that year compared to other countries across the globe.

Graph and download economic data for People 15 Years and Over Saving at a Financial Institution in the Past Year for India (DDAI06INA156NWDB) from 2011 to 2021 about adult, finance companies, savings, companies, India, finance, and financial.

India Financial Assets and Liabilities: Households: Flow: Net / Net Financial Savings data was reported at 5,059,377.893 INR mn in Mar 2023. This records an increase from the previous number of 2,794,601.269 INR mn for Dec 2022. India Financial Assets and Liabilities: Households: Flow: Net / Net Financial Savings data is updated quarterly, averaging 4,250,169.272 INR mn from Jun 2018 (Median) to Mar 2023, with 20 observations. The data reached an all-time high of 6,791,743.901 INR mn in Mar 2021 and a record low of 2,386,135.644 INR mn in Jun 2019. India Financial Assets and Liabilities: Households: Flow: Net / Net Financial Savings data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Monetary – Table IN.KAJ001: Financial Assets and Liabilities: Household: Flow.

Adjusted savings: net national savings (% of GNI) in India was reported at 18.57 % in 2021, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Adjusted savings: net national savings (% of GNI) - actual values, historical data, forecasts and projections were sourced from the World Bank on July of 2025.

The statistic shows the results of a survey about the share of people keeping savings at financial institutions in India in 2011, 2014 and 2017, sorted by income level. During the survey period in 2017, about ** percent of the richest ** percent of respondents in India claimed to entrust financial institutions with their savings.

Gross savings (% of GNI) in India was reported at 31.12 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. India - Gross savings (% of GNI) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

India Gross Domestic Saving: Household: Physical Savings data was reported at 14,952,830.000 INR mn in 2013. This records an increase from the previous number of 14,225,410.000 INR mn for 2012. India Gross Domestic Saving: Household: Physical Savings data is updated yearly, averaging 98,243.236 INR mn from Mar 1951 (Median) to 2013, with 63 observations. The data reached an all-time high of 14,952,830.000 INR mn in 2013 and a record low of 4,921.190 INR mn in 1955. India Gross Domestic Saving: Household: Physical Savings data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under Global Database’s India – Table IN.AF003: NAS 2004-2005: Domestic Saving.

India Scheduled Commercial Banks: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits data was reported at 39.050 % in 2024. This records a decrease from the previous number of 41.560 % for 2023. India Scheduled Commercial Banks: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits data is updated yearly, averaging 36.775 % from Mar 2005 (Median) to 2024, with 20 observations. The data reached an all-time high of 43.680 % in 2022 and a record low of 32.430 % in 2014. India Scheduled Commercial Banks: Financial Ratio: Demand and Savings Bank Deposits-Total Deposits data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under India Premium Database’s Banking Sector – Table IN.KBB021: Scheduled Commercial Banks: Selected Financial Ratios.